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NCUA Chairman addresses Citadel Federal Credit Union's redlining settlement
By Globe Banner | Oct 10, 2024
National Credit Union Administration (NCUA) Chairman Todd M. Harper has commented on the U.S. Department of Justice's settlement with Citadel Federal Credit Union concerning allegations of lending discrimination. Citadel, a financial institution in Southeastern Pennsylvania, manages assets worth $6 billion.
World Bank report assesses air quality issues and solutions for Tashkent
By Globe Banner | Oct 9, 2024
The World Bank has released a report titled "Air Quality Assessment for Tashkent and the Roadmap for Air Quality Management Improvement in Uzbekistan," which evaluates air quality in Tashkent and proposes a roadmap for enhancing air quality management across Uzbekistan. The report was jointly produced with the Ministry of Ecology, Environmental Protection and Climate Change of Uzbekistan, supported by the Ministry of Economy and Finance.
World Bank highlights opportunities for growth in Latin America amid structural challenges
By Globe Banner | Oct 9, 2024
Latin America and the Caribbean are projected to experience a growth rate of 1.9 percent in 2024, according to the World Bank's latest report titled "Taxing Wealth for Equity and Growth." The region is expected to grow by 2.6 percent in 2025, which remains the lowest among global regions due to ongoing structural challenges.
World Bank aids DRC's fight against mpox with strategic investments
By Globe Banner | Oct 8, 2024
The World Bank has taken significant steps to support the Democratic Republic of Congo (DRC) in combating the mpox epidemic. According to Dr. Michel Muvudi, long-term investment financing has been provided for healthcare and diagnostic infrastructure, with over $2 billion invested in the health sector over the past decade. The World Bank is actively supporting the government's response plan by mobilizing funds for projects like REDISSE and PMNS.
Axel van Trotsenburg discusses global finance challenges at Vienna conference
By Globe Banner | Oct 8, 2024
Thank you, Ms. Milborn, for your introductory remarks. I would also like to thank the financial supervision authority for the kind invitation, which was extended to me by Helmut Ettl and Eduard Müller.
World Bank raises $5 billion through sustainable development bond
By Globe Banner | Oct 8, 2024
The World Bank has announced the pricing of a five-year benchmark bond, raising USD 5 billion to support sustainable development activities in developing countries. The bond, which matures in October 2029, attracted over USD 11 billion in orders from 175 high-quality investors. These investors included bank treasuries, official institutions, and asset managers.
Off-grid solar aims to electrify nearly 400 million people globally by 2030
By Globe Banner | Oct 8, 2024
Off-grid solar power is positioned as a key solution for providing electricity to almost 400 million people globally by 2030, according to the latest Off-Grid Solar Market Trends Report (MTR) 2024. The report, published by the World Bank’s Energy Sector Management Assistance Program (ESMAP) and GOGLA, highlights the potential of off-grid solar as the most cost-effective method to supply energy access to those currently without it.
World Bank highlights need for fiscal tools in Equatorial Guinea's forestry sector
By Globe Banner | Oct 8, 2024
The World Bank released the 2024 Equatorial Guinea Economic Update on October 8, which examines the nation's recent economic trends and future outlook. The report emphasizes the significance of creating effective fiscal instruments to promote sustainable forestry and diversify the economy.
Pacific cities embrace sustainable mobility with World Bank's new car-lite initiative
By Globe Banner | Oct 8, 2024
In March 2024, Saint John Bosco Primary School in Tarawa, Kiribati, underwent a significant transformation. Students and community members collaborated to enhance the area by adding a crosswalk, narrowing the road at the crossing, clearing debris, painting murals on the road, planting coconut trees, and installing no-parking signs. These changes resulted in traffic speed reduction from 34.7 to 19.7 km/h and increased car stops for pedestrians from 9 percent to 81 percent. The initiative improved safety for students walking to school daily and beautified the neighborhood.
World Bank unveils strategy for inclusive growth in Zimbabwe
By Globe Banner | Oct 8, 2024
The World Bank Group has announced the approval of a new Country Engagement Note (CEN) for Zimbabwe, covering the period from 2025 to 2026. This strategy is designed to support Zimbabwe's immediate development priorities and aligns with the nation's Vision 2030 and the National Development Strategy 2021-2025. The CEN aims to contribute to the World Bank Group's overarching goals of ending extreme poverty and promoting shared prosperity.
World Bank approves $150 million fund to boost Nepal's disaster response
By Globe Banner | Oct 8, 2024
The World Bank has approved $150 million in contingent financing for Nepal to address natural or climate-induced hazards and health emergencies. The financial support, known as the Nepal Disaster Resilience Development Policy Credit with Catastrophe Deferred Drawdown Option (Cat DDO), aims to bolster policy and regulatory reforms that enhance disaster resilience and improve institutional mechanisms for effective disaster response.
Fubon Life honored as best insurance company in Taiwan by World Finance
By Globe Banner | Oct 7, 2024
Fubon Life has been named the "Best Insurance Company in Taiwan" by World Finance for the thirteenth time, marking a significant achievement in the life insurance industry.
Binance announces inclusion in Argentina's virtual asset registry
By Globe Banner | Oct 5, 2024
Binance has announced its incorporation into Argentina's Virtual Asset Service Providers Registry by the National Securities Commission (CNV), marking its 20th regulatory milestone worldwide. This development allows Binance to expand its full range of services to users in Argentina.
World Bank approves $800 million support for Uzbekistan's reform initiatives
By Globe Banner | Oct 4, 2024
The World Bank's Board of Executive Directors has approved an $800 million financial package in concessional loans to support Uzbekistan's reform agenda. The aim is to facilitate the country's transition to a more inclusive and resilient market economy.
Nigeria addresses high maternal mortality with new initiatives
By Globe Banner | Oct 4, 2024
Hajiya A'ishatu, a resident of Tudun-Wada city in Nigeria's Gombe State, shares her gratitude for the care she received at the Tudun Wada Primary Health Care Facility. "I had all my children in this facility," she says. "My family is grateful for everything the doctors and nurses did for us here." Her experience reflects Nigeria's ongoing efforts to improve maternal and child health services, particularly in underserved areas.
World Bank approves EUR 80 million loan for Montenegro's fiscal stability
By Globe Banner | Oct 4, 2024
The World Bank Group's Board of Executive Directors has approved a EUR 80 million loan to Montenegro. The funding aims to bolster fiscal sustainability and promote sustainable development in the country. This initiative, known as the Montenegro First Resilient Fiscal and Sustainable Development Policy Financing (DPF), seeks to enhance revenue generation, improve spending oversight, reduce fiscal risks, and address environmental degradation and climate change challenges.
IMF, World Bank Group, WHO collaborate on global pandemic preparedness
By Globe Banner | Oct 4, 2024
The International Monetary Fund (IMF), the World Bank Group (WBG), and the World Health Organization (WHO) have announced a collaborative effort to enhance pandemic preparedness. This initiative aims to provide countries with increased support in preventing, detecting, and responding to public health threats through various means including the IMF’s Resilience and Sustainability Trust (RST), WBG’s financial and technical assistance, and WHO’s expertise.
World Bank approves $250 million project for renewable energy in Lebanon
By Globe Banner | Oct 3, 2024
The World Bank has approved a $250 million project aimed at enhancing renewable energy in Lebanon by restoring electricity grid services and supporting ongoing reforms. This decision comes as Lebanon's electricity sector faces significant operational and financial challenges due to recent crises.
World Bank report reveals gaps between regulations and public services in global economies
By Globe Banner | Oct 3, 2024
The World Bank Group's newly released Business Ready report highlights a disparity between regulatory frameworks and public services across 50 economies. While many nations have established regulations to enhance the business environment, they fall short in delivering the necessary public services to ensure tangible progress. The report evaluates each economy with 1,200 indicators, providing insights into areas requiring improvement and encouraging reforms.
World Bank launches plan targeting gender inequalities in Sierra Leone
By Globe Banner | Oct 3, 2024
The World Bank has introduced the Sierra Leone Country Gender Action Plan (C-GAP), a strategy aimed at reducing gender inequalities and promoting equality across various sectors in Sierra Leone. This initiative is aligned with the World Bank Group’s Sierra Leone Country Partnership Framework for 2021-2026 and the WBG Gender Strategy for 2024-2030.